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2020 BULKERS LTD (2020.OL) Stock Fundamental Analysis

OSL:2020 - BMG9156K1018 - Common Stock

143.9 NOK
+0.1 (+0.07%)
Last: 9/11/2025, 9:25:46 AM
Fundamental Rating

6

Taking everything into account, 2020 scores 6 out of 10 in our fundamental rating. 2020 was compared to 18 industry peers in the Marine Transportation industry. 2020 has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. 2020 has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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9

1. Profitability

1.1 Basic Checks

2020 had positive earnings in the past year.
In the past year 2020 had a positive cash flow from operations.
In the past 5 years 2020 has always been profitable.
2020 had a positive operating cash flow in each of the past 5 years.
2020.OL Yearly Net Income VS EBIT VS OCF VS FCF2020.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 0 50M -50M -100M

1.2 Ratios

2020's Return On Assets of 17.83% is amongst the best of the industry. 2020 outperforms 83.33% of its industry peers.
2020 has a better Return On Equity (32.00%) than 77.78% of its industry peers.
The Return On Invested Capital of 2020 (15.97%) is better than 83.33% of its industry peers.
2020 had an Average Return On Invested Capital over the past 3 years of 13.93%. This is above the industry average of 10.09%.
The last Return On Invested Capital (15.97%) for 2020 is above the 3 year average (13.93%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 17.83%
ROE 32%
ROIC 15.97%
ROA(3y)14.61%
ROA(5y)12.95%
ROE(3y)28.88%
ROE(5y)28.22%
ROIC(3y)13.93%
ROIC(5y)12.58%
2020.OL Yearly ROA, ROE, ROIC2020.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20 30 40 50

1.3 Margins

The Profit Margin of 2020 (57.76%) is better than 100.00% of its industry peers.
2020's Profit Margin has improved in the last couple of years.
2020 has a Operating Margin of 64.98%. This is amongst the best in the industry. 2020 outperforms 100.00% of its industry peers.
2020's Operating Margin has improved in the last couple of years.
2020 has a Gross Margin of 81.83%. This is amongst the best in the industry. 2020 outperforms 100.00% of its industry peers.
2020's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 64.98%
PM (TTM) 57.76%
GM 81.83%
OM growth 3Y1.88%
OM growth 5Y49.3%
PM growth 3Y3.06%
PM growth 5YN/A
GM growth 3Y0.45%
GM growth 5Y2.23%
2020.OL Yearly Profit, Operating, Gross Margins2020.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60 80

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8

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), 2020 is creating value.
2020 has about the same amout of shares outstanding than it did 1 year ago.
Compared to 5 years ago, 2020 has more shares outstanding
2020 has a better debt/assets ratio than last year.
2020.OL Yearly Shares Outstanding2020.OL Yearly Shares OutstandingYearly Shares Outstanding 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M
2020.OL Yearly Total Debt VS Total Assets2020.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

2.2 Solvency

An Altman-Z score of 3.30 indicates that 2020 is not in any danger for bankruptcy at the moment.
2020 has a better Altman-Z score (3.30) than 94.44% of its industry peers.
The Debt to FCF ratio of 2020 is 3.18, which is a good value as it means it would take 2020, 3.18 years of fcf income to pay off all of its debts.
2020's Debt to FCF ratio of 3.18 is fine compared to the rest of the industry. 2020 outperforms 66.67% of its industry peers.
2020 has a Debt/Equity ratio of 0.74. This is a neutral value indicating 2020 is somewhat dependend on debt financing.
2020 has a Debt to Equity ratio (0.74) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.74
Debt/FCF 3.18
Altman-Z 3.3
ROIC/WACC1.87
WACC8.52%
2020.OL Yearly LT Debt VS Equity VS FCF2020.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 0 100M -100M 200M

2.3 Liquidity

A Current Ratio of 2.45 indicates that 2020 has no problem at all paying its short term obligations.
2020 has a better Current ratio (2.45) than 88.89% of its industry peers.
2020 has a Quick Ratio of 2.45. This indicates that 2020 is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 2.45, 2020 belongs to the top of the industry, outperforming 88.89% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.45
Quick Ratio 2.45
2020.OL Yearly Current Assets VS Current Liabilites2020.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M

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4

3. Growth

3.1 Past

2020 shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -71.63%.
Measured over the past 5 years, 2020 shows a small growth in Earnings Per Share. The EPS has been growing by 1.97% on average per year.
2020 shows a strong growth in Revenue. In the last year, the Revenue has grown by 56.30%.
2020 shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 65.82% yearly.
EPS 1Y (TTM)-71.63%
EPS 3Y1.97%
EPS 5YN/A
EPS Q2Q%-81.62%
Revenue 1Y (TTM)56.3%
Revenue growth 3Y-0.52%
Revenue growth 5Y65.82%
Sales Q2Q%-65.81%

3.2 Future

2020 is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -11.82% yearly.
Based on estimates for the next years, 2020 will show a small growth in Revenue. The Revenue will grow by 4.87% on average per year.
EPS Next Y-64.15%
EPS Next 2Y-23.43%
EPS Next 3Y-11.82%
EPS Next 5YN/A
Revenue Next Year-15.69%
Revenue Next 2Y2.47%
Revenue Next 3Y4.87%
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
2020.OL Yearly Revenue VS Estimates2020.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 20M 40M 60M 80M 100M
2020.OL Yearly EPS VS Estimates2020.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 1 2 3

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4

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 14.64, which indicates a correct valuation of 2020.
2020's Price/Earnings ratio is a bit more expensive when compared to the industry. 2020 is more expensive than 77.78% of the companies in the same industry.
When comparing the Price/Earnings ratio of 2020 to the average of the S&P500 Index (27.03), we can say 2020 is valued slightly cheaper.
The Price/Forward Earnings ratio is 7.40, which indicates a rather cheap valuation of 2020.
2020's Price/Forward Earnings is on the same level as the industry average.
2020 is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.54, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 14.64
Fwd PE 7.4
2020.OL Price Earnings VS Forward Price Earnings2020.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

2020's Enterprise Value to EBITDA is on the same level as the industry average.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of 2020 is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 9.56
EV/EBITDA 6.73
2020.OL Per share data2020.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

The excellent profitability rating of 2020 may justify a higher PE ratio.
2020's earnings are expected to decrease with -11.82% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-23.43%
EPS Next 3Y-11.82%

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0

5. Dividend

5.1 Amount

No dividends for 2020!.
Industry RankSector Rank
Dividend Yield N/A

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2020 BULKERS LTD

OSL:2020 (9/11/2025, 9:25:46 AM)

143.9

+0.1 (+0.07%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryMarine Transportation
Earnings (Last)08-13 2025-08-13/bmo
Earnings (Next)N/A N/A
Inst Owners28.28%
Inst Owner ChangeN/A
Ins Owners4.57%
Ins Owner ChangeN/A
Market Cap3.29B
Analysts81.67
Price Target145.35 (1.01%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend37.77
Dividend Growth(5Y)N/A
DP155.42%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-68.83%
Min EPS beat(2)-91.09%
Max EPS beat(2)-46.57%
EPS beat(4)2
Avg EPS beat(4)-26.41%
Min EPS beat(4)-91.09%
Max EPS beat(4)30.29%
EPS beat(8)5
Avg EPS beat(8)0.42%
EPS beat(12)5
Avg EPS beat(12)-2.12%
EPS beat(16)7
Avg EPS beat(16)-2.59%
Revenue beat(2)0
Avg Revenue beat(2)-19.36%
Min Revenue beat(2)-21.48%
Max Revenue beat(2)-17.25%
Revenue beat(4)1
Avg Revenue beat(4)17.29%
Min Revenue beat(4)-21.48%
Max Revenue beat(4)108.02%
Revenue beat(8)3
Avg Revenue beat(8)22.79%
Revenue beat(12)5
Avg Revenue beat(12)15.48%
Revenue beat(16)7
Avg Revenue beat(16)12.16%
PT rev (1m)3.86%
PT rev (3m)-8.26%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-8.86%
EPS NY rev (1m)-8.51%
EPS NY rev (3m)-8.51%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-4.92%
Revenue NY rev (1m)-2.13%
Revenue NY rev (3m)0.48%
Valuation
Industry RankSector Rank
PE 14.64
Fwd PE 7.4
P/S 3.99
P/FCF 9.56
P/OCF 9.56
P/B 2.21
P/tB 2.21
EV/EBITDA 6.73
EPS(TTM)9.83
EY6.83%
EPS(NY)19.44
Fwd EY13.51%
FCF(TTM)15.06
FCFY10.47%
OCF(TTM)15.06
OCFY10.47%
SpS36.06
BVpS65.1
TBVpS65.1
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 17.83%
ROE 32%
ROCE 20.74%
ROIC 15.97%
ROICexc 17.07%
ROICexgc 17.07%
OM 64.98%
PM (TTM) 57.76%
GM 81.83%
FCFM 41.76%
ROA(3y)14.61%
ROA(5y)12.95%
ROE(3y)28.88%
ROE(5y)28.22%
ROIC(3y)13.93%
ROIC(5y)12.58%
ROICexc(3y)14.87%
ROICexc(5y)13.42%
ROICexgc(3y)14.87%
ROICexgc(5y)13.42%
ROCE(3y)18.09%
ROCE(5y)16.33%
ROICexcg growth 3Y13.49%
ROICexcg growth 5Y148.43%
ROICexc growth 3Y13.49%
ROICexc growth 5Y148.43%
OM growth 3Y1.88%
OM growth 5Y49.3%
PM growth 3Y3.06%
PM growth 5YN/A
GM growth 3Y0.45%
GM growth 5Y2.23%
F-Score6
Asset Turnover0.31
Health
Industry RankSector Rank
Debt/Equity 0.74
Debt/FCF 3.18
Debt/EBITDA 1.75
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 6.59
Cash Conversion 54.99%
Profit Quality 72.29%
Current Ratio 2.45
Quick Ratio 2.45
Altman-Z 3.3
F-Score6
WACC8.52%
ROIC/WACC1.87
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)117.38%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-71.63%
EPS 3Y1.97%
EPS 5YN/A
EPS Q2Q%-81.62%
EPS Next Y-64.15%
EPS Next 2Y-23.43%
EPS Next 3Y-11.82%
EPS Next 5YN/A
Revenue 1Y (TTM)56.3%
Revenue growth 3Y-0.52%
Revenue growth 5Y65.82%
Sales Q2Q%-65.81%
Revenue Next Year-15.69%
Revenue Next 2Y2.47%
Revenue Next 3Y4.87%
Revenue Next 5YN/A
EBIT growth 1Y-18.06%
EBIT growth 3Y1.35%
EBIT growth 5Y147.57%
EBIT Next Year-44.4%
EBIT Next 3Y2.09%
EBIT Next 5YN/A
FCF growth 1Y-8.92%
FCF growth 3Y-18.8%
FCF growth 5YN/A
OCF growth 1Y-8.92%
OCF growth 3Y-18.8%
OCF growth 5Y54.36%